Ergo Foundation Treasury#
Quick Navigation#
- Ergo Foundation Treasury
- Quick Navigation
- Initial Allocation {#initial-allocation}
- Holdings
- Wallets
- Salaries
- Historic Spending
- Votings
Initial Allocation#
The Ergo Foundation initially received an allocation of 4,330,776 ERG, which is equivalent to 4.43% of the total supply.
A significant portion of this Treasury has been expended for the benefit of the Ergo protocol and community. Even during periods of low ERG price, the Foundation continued to invest in order to foster and grow the Ergo ecosystem.
EFYT
Additionally, the Treasury exchanged 1,782,615 ERG for EFYT, a token issued on the Waves Platform in 2017 to build an early community through airdrops and raise funds before the Ergo mainnet launch.
After subtracting the 1,782,615 ERG exchanged for EFYT, the Ergo Foundation was left with 2,548,161 ERG, which is approximately 2.6% of the total supply.
For more information on Ergo's emission schedule, tokenomics and allocation, visit the emission section.
Holdings#
As of July 2024, the complete treasury of the foundation is as follows:
| Asset | Indicator Amount | Indicative US$ Price | Indicative Total US$ Value |
|---|---|---|---|
| Liquid Assets in Self-Hosted Wallets | |||
| ERG | 179,954.44 | 0.84 | 151,161.73 |
| BTC | 3.315399986 | 66,731 | 221,236.01 |
| Subtotal - Liquid Assets | $372,397.74 | ||
| Illiquid Assets in Self-Hosted Wallets | |||
| Gluon | 335,000 | 1.00 | 335,000.00 |
| SPF | 27,681,500 | 0.01292 | 357,644.98 |
| RSN | 30,000,000 | 0.06639 | 1,991,700.00 |
| Subtotal - Illiquid Assets | $2,684,344.98 | ||
| Assets in MM Accounts (Illiquid) | |||
| ERG | 164,016.09167 | 0.84 | 137,773.52 |
| BTC | 0.00804 | 66,731 | 536.52 |
| USDT | 8,843.41 | 1.00 | 8,843.41 |
| Subtotal - Assets in MM Accounts | $147,153.45 | ||
| Total Liquid Assets | $372,397.74 | ||
| Total Illiquid Assets | $2,831,498.43 | ||
| Total Assets | $3,203,896.17 |
Liquid vs Illiquid Funds
The Ergo Foundation's treasury consists of both liquid and illiquid assets, providing a diverse portfolio to support the growth and development of the Ergo ecosystem. The liquid assets, such as ERG and BTC, can be readily utilized for various purposes, while the illiquid assets, like Gluon, SPF, and RSN tokens, are held strategically to avoid exerting downward pressure on these early-stage projects.
As these projects mature and their tokens become more liquid, the Ergo Foundation will have the opportunity to leverage these assets to further augment its expenditure capabilities and support the Ergo ecosystem more effectively.
Wallets#
You can find the Ergo Foundation treasury and current balance on-chain at the following locations:
- EF Multi-sig for ERG + Tokens
- Hot Wallet managed by the Treasurer when sending payments.
- EF BTC Multi-sig
Salaries#
Several receive monthly salaries or rewards for their contributions to the Ergo ecosystem. The vast majority were promoted from within the community after exceptional contributions, demonstrating the Foundation's commitment to recognizing and rewarding talent within the Ergo community.
An average breakdown of how people in Ergo are awarded.
pie title 2023 Salary Averages
"EF" : 14.8
"Advisory" : 7.5
"Marketing" : 14
"Development" : 63
Roles
More information on each of these roles can be seen on this page.
Historic Spending#
The Ergo Foundation has spent the majority of the Treasury for the benefit of the protocol and community. Funds were even spent when the ERG price was low, as it was necessary to bootstrap the thriving community Ergo now boasts.
| Spent | ERG | USD |
|---|---|---|
| 2023 | 424,150 | $589,777 |
| 2022 | 723,000 | $2,247,640 |
| 2021 | 889,001 | $3,793,485 |
| 2020 | 1,080,000 | $500,292 |
| 2019 | 757,051 | $590,239 |
| Total | 3,963,209 | $7,721,433 |
In addition to the direct ERG spending above in 2023,
- 972,000 SPF was liquidated for 43,020 ERG
- 650,000 SPF was paid as compensation ($21,000)
- 160,000 SPF was donated to the Sigmanauts Treasury
- Totaling 1,622,000 SPF
The Ergo Foundations Future
Please see this page for more information on the long-term goals of The Foundation.
Votings#
The Ergo Foundation members and officers discuss proposals before putting them to a formal vote on the ergoforum, passed with a majority of voting members.
Before voting on spending treasury funds, we will approach the Good Whale Fund, DarkFund0, or suggest creating a Raffle if appropriate.
Foundation votes this year are usually related to our internal structures, exchanges, market-makers, banks, and grant requests.
| Date | Description | Category | Status | Amount |
|---|---|---|---|---|
| (Jul 2024) | Fund Gluon Gold Marketing Effort | Treasury Control | Passed | 9540 ERG |
| (Jul 2024) | Make MGpai EF member | Ergo Foundation | Passed | |
| (Jul 2024) | Appoint Glasgow as Permanent Authorised Signatory / Confirm EF Members | Ergo Foundation | Passed | |
| (Jun 2024) | Monthly budget reduction | Treasury Control | ||
| (May 2024) | Appoint Justin Simpson as Authorised Signatory | Ergo Foundation | Passed | |
| (May 2024) | Treasury transfer to BTC wallet | Treasury Control | Passed | |
| (Apr 2024) | Treasury transfer to MultiSig | Treasury Control | Passed | |
| (Apr 2024) | Cornell Blockchain Conference Sponsorship | Treasury Control | Passed | $5,000 |
| (Apr 2024) | ERGOHACK VIII Funding | Treasury Control | Passed | $18,000 |
| (Apr 2024) | Paying CLS/MEXC | Treasury Control | Passed | $112,974 |
| (Mar 2024) | Sigmanaut Market Making Proposal to Ergo Foundation | Treasury Control | Passed | |
| (Mar 2024) | Donate MEXC Raffle listing to Sigmanauts | Treasury Control | Passed | 28,675 ERG |
| (Mar 2024) | Proposal to Form RMI DAO LLC | Treasury Control | Passed | $13,000 |
| (Mar 2024) | Covering MEXC USDT | Treasury Control | Passed | $10,000 |
| (Feb 2024) | MEXC Market Making | Treasury Control | Passed | |
| (Feb 2024) | Request more SPF tokens | Treasury Control | Passed | |
| (Feb 2024) | Repayment of Kushti & Justin MM Loans | Treasury Control | Passed | |
| (Jan 2024) | CLS continuation 1 month | Treasury Control | Passed | |
| (Jan 2024) | Biconomy Marketing | Treasury Control | Failed | |
| (Dec 2023) | Transfer of all or Part of Treasury to New Multi-sig | Treasury Control | Passed | |
| (Dec 2023) | Using SPF in SigmaFi | Treasury Control | Failed | |
| (Dec 2023) | Ledger additional funding | Treasury Control | Passed | $9,500 |
| (Dec 2023) | Repayment of US$52.5k Huobi Loan | Treasury Control | Failed | $52,500 |
| (Nov 2023) | Bez proposal 2023 | Ergo Foundation | Passed | |
| (Oct 2023) | Bounty for Ergo Explorer | Ergo Foundation | Passed | 1,500 ERG |
| (Oct 2023) | Withdraw $40K from Kucoin MM | Treasury Control | Passed | $40,000 |
| (Oct 2023) | Sponsorship of tickets to Dubai for Cardano Summit | Ergo Foundation | Passed | $1,000 |
| (Oct 2023) | Pay raise for anon-br | Treasury Control | Passed | |
| (Oct 2023) | $10k in ERG to CoinLS to support depth on HTX | Treasury Control | Withdrawn | $10,000 |
| (Oct 2023) | SPF Salary Incentivisation | Treasury Control | Failed | |
| (Oct 2023) | Additional ERGOHACK VII Funding: $5000 worth of SPF | Treasury Control | Failed | $5,000 |
| (Sep 2023) | Pay a bonus to Angie in SPF | Treasury Control | Passed | |
| (Sep 2023) | Vote on salary subsidy to be paid in SPF starting month after SPF attained | Treasury Control | Failed | |
| (Sep 2023) | Vote on SPF conversions | Treasury Control | Passed | |
| (Sep 2023) | ERGOHACK VII Funding | Treasury Control | Failed | |
| (Aug 2023) | Bitpanda Listing | Treasury Control | Passed | |
| (Aug 2023) | Vote on taking down 2mm SPF into a minimum 4-person multi-sig | Treasury Control | Passed | 2,000,000 SPF |
| (Aug 2023) | SPF Tokens to Sigmanauts | Treasury Control | Passed | 160,000 SPF |
| (Jul 2023) | Sigmanauts Treasury Fundraiser | Treasury Control | Passed | |
| (Jul 2023) | Dubai Entity Setup | Treasury Control | Passed | |
| (Jul 2023) | Make Angie EF's Head of Marketing | Ergo Foundation | Passed | |
| (Jul 2023) | Continued Cooperation with Jinse | Treasury Control | Failed | |
| (Jun 2023) | Stop payments to "advisor" Dan Friedman | Treasury Control | Failed | |
| (Jun 2023) | Grant Request - Quidli - $3,000 | Treasury Control | Failed | $3,000 |
| (Jun 2023) | Ergo Foundation Reorganization Proposal | Ergo Foundation | Failed | |
| (May 2023) | Partial Payment of debt to morphic | Treasury Control | Passed | $48,000 + 3314 ERG |
| (May 2023) | WeChat Public Account Purchase - 1,200 ERG | Treasury Control | Passed | 1,200 ERG |
| (May 2023) | Event participation | Treasury Control | Failed | |
| (May 2023) | ERG liquidation – additional procedure | Treasury Control | Failed | |
| (Apr 2023) | EF entity set up in Dubai | Treasury Control | Passed | |
| (May 2022) | Guap Swap Funding Grant Request | Treasury Control | Failed | $10,000 (Funded by Good Whale) |
| (May 2022) | Funding proposal for mhs_sam's team | Treasury Control | Passed | $22,700 / month |
| (Apr 2022) | Trezor Build Grant | Treasury Control | Failed | $100,000 |
| (Apr 2022) | Themoonlab marketing proposal for Ergo Hackathon | Treasury Control | Passed | |
| (Apr 2022) | Securing Funding for Deco Raffle | Treasury Control | Passed | |
| (Apr 2022) | Huobi Funding | Treasury Control | Passed | NDA |
| (Mar 2022) | Unbanked Debit Cards 60K | Treasury Control | Failed | $60,000 |
| (Mar 2022) | MEXC Latest Offer 28/2 | Treasury Control | Failed | $100,000 |
| (Mar 2022) | Huobi Listing $ in ERG | Treasury Control | Passed | NDA |
| (Feb 2022) | Sign Development Contract with Alex Slesarenko | Treasury Control | Passed | |
| (Feb 2022) | Vote for Continued Cooperation with Jinse Finance - China | Treasury Control | Passed | |
| (Feb 2022) | Dmitry Usov performance sheet (Pay Increase Request) | Treasury Control | Failed | |
| (Feb 2022) | Marketing Partnership | Treasury Control | Failed | |
| (Jan 2022) | ErgoDex Proposal | Treasury Control | Passed | $113,200 |
| (Jan 2022) | Funding for Website Visual Direction | Treasury Control | Passed | |
| (Jan 2022) | Bank Account Opening with Equity Bank / Crypto Custody Account Opening with LionGate | Treasury Control | Passed | |
| (Jan 2022) | ErgoLearn Grant | Treasury Control | Passed | 1,000 ERG |
| (Jan 2022) | Apple Developer Program Account Funding | Treasury Control | Failed | |
| (Dec 2021) | Matthew Salary Proposal (From Angie) | Treasury Control | Failed | |
| (Dec 2021) | Bittrex Listing | Treasury Control | Failed | |
| (Dec 2021) | Website Update Funding (Spending Proposal From Dmitry U) | Treasury Control | Failed | |
| (Dec 2021) | Request for increasing the EF rewards for Rosen Team | Treasury Control | Passed | |
| (Dec 2021) | Bounties for Bugs | Treasury Control | Passed | |
| (Dec 2021) | Hire Monye David as a full-time Scala developer | Treasury Control | Passed | |
| (Dec 2021) | Hire Josef Koval as a full-time Scala developer | Treasury Control | Passed | |
| (Dec 2021) | EF Treasurer Proposal | Treasury Control | Passed | |
| (Nov 2021) | US Based Legal Opinion | Treasury Control | Passed | |
| (Nov 2021) | Matthew Hinton - Marketing/CM Assistant | Treasury Control | Passed | |
| (Nov 2021) | Andy Lowe - Youtube/Video Manager | Treasury Control | Passed | |
| (Nov 2021) | AMM Kairon Labs | Treasury Control | Passed | |
| (Nov 2021) | Ergo Platform Strategic Marketing Planning Budget | Treasury Control | Passed | |
| (Nov 2021) | Bounty Budget for Core Repositories | Treasury Control | Passed | |
| (Nov 2021) | Dan Friedman IOG BD (EF Advisor Role) | Treasury Control | Passed | |
| (Nov 2021) | MEXC Offer Update | Treasury Control | Failed | |
| (Nov 2021) | Binance Initial Meeting | Treasury Control | Failed | |
| (Nov 2021) | Proposal to hire MrStahlfelge as full-time engineer | Treasury Control | Passed | |
| (Oct 2021) | Indodax Exchange | Treasury Control | Passed | |
| (Sep 2021) | Make Mark Glasgow EF Board Member | Ergo Foundation | Passed | |
| (Sep 2021) | Proposal to Pay Le Yu to Start Incorporation Process | Treasury Control | Passed | $40,000 |
| (Sep 2021) | Proposal to hire anon_br as part-time Yoroi developer | Treasury Control | Passed | |
| (Sep 2021) | Bibox Exchange Listing Fee | Treasury Control | Failed | $20,000 |
| (Sep 2021) | Digifinex Exchange Listing Fee | Treasury Control | Failed | $50,000 |
| (Sep 2021) | BitForex List Fee | Treasury Control | Failed | $20,000 |
| (Sep 2021) | Redline Assistance with OKex, Houbi, Binance | Treasury Control | Failed | $100,000 |
| (Sep 2021) | Addition Token Pair on Kucoin | Treasury Control | Failed | NDA |
| (Sep 2021) | AscendEX Listing Info | Treasury Control | Failed | $50,000 |
| (Sep 2021) | MEXC Listing Fee Info | Treasury Control | Failed | $125,000 |
| (Sep 2021) | ZB Exchange Fee | Treasury Control | Failed | $300,000 |
| (Sep 2021) | Funding Salary of Yoroi developer | Treasury Control | Passed | |
| (Aug 2021) | Ergo x F2pools Proposal | Treasury Control | Failed | |
| (Aug 2021) | Jinxi Partnership | Treasury Control | Failed | |
| (Jul 2021) | Make Joseph Armeanio EF Board Member | Ergo Foundation | Passed | |
| (Jul 2021) | One year deal with MrStahlfelge | Treasury Control | Passed | |
| (Jul 2021) | Eva Compensation Boost | Treasury Control | Passed | |
| (Jul 2021) | One-time reward for MrStahlfelge | Treasury Control | Passed | |
| (Jul 2021) | Proposal to hire MrStahlfelge as part-time developer | Treasury Control | Passed | |
| (Jul 2021) | Denton's Payment to Set up Legal Entity | Treasury Control | Passed | |
| (Jul 2021) | Transfer of 5K ERG to morphic | Treasury Control | Passed | 5,000 ERG |
| (Jun 2021) | Fund Up to $7.5k for Ergoversary marketing | Treasury Control | Passed | $7,500 |
| (Jun 2021) | ErgoDEX funding | Treasury Control | Passed | $15,000 |
| (Jun 2021) | Special ops budget | Treasury Control | Passed | |
| (Jun 2021) | Proposal to hire an Editor and a Product Manager to join the Content Team | Treasury Control | Passed | |
| (May 2021) | Proposal to make Tango Ergo Ambassador in China | Treasury Control | Passed | |
| (May 2021) | Regular spending of the fund V3 | Treasury Control | Passed | |
| (Apr 2021) | Hire Marketing Coordinator | Treasury Control | Passed | |
| (Apr 2021) | Regular spending of the fund V2 | Treasury Control | Passed | |
| (Mar 2021) | Selling 250K ERG | Treasury Control | Passed | 250,000 ERG |
| (Mar 2021) | China Community - Eva Salary Increase | Treasury Control | Passed | |
| (Mar 2021) | Marketing activities regarding BitMart listing | Treasury Control | Passed | |
| (Feb 2021) | Rewards for external contributions to 4.0.3 core development | Treasury Control | Passed | |
| (Feb 2021) | HotBit - MM on ERG/USDT pair | Treasury Control | Passed | |
| (Feb 2021) | Anarchapulco Sponsorship | Treasury Control | Failed | |
| (Feb 2021) | OTC Sales and Discounts | Treasury Control | Failed | |
| (Feb 2021) | Request for Funding for AMM Code | Treasury Control | Failed | |
| (Feb 2021) | BiKi Listing | Treasury Control | Passed | |
| (Jan 2021) | One-time rewards | Treasury Control | Passed | |
| (Jan 2021) | Ergs for 1 year partnership with Jinse | Treasury Control | Passed | |
| (Jan 2021) | India Marketing Proposal | Treasury Control | Passed | |
| (Jan 2021) | Out-Of-The-Box Ergo Node + Explorer Deployment With Metrics & Logs | Treasury Control | Passed | |
| (Nov 2020) | Coinex Listing | Treasury Control | Passed | |
| (Nov 2020) | Market-making and OTC deals | Ergo Foundation | ||
| (Nov 2020) | China marketing proposal | Treasury Control | Passed | |
| (Oct 2020) | Rewards for external contributions to core development | Treasury Control | Passed | |
| (Oct 2020) | Put mhs into Ergo Foundation | Ergo Foundation | Passed | |
| (Sep 2020) | Regular spendings of the Fund | Treasury Control | Passed | |
| (Sep 2020) | Ergo Cast renewal | Treasury Control | Passed | |
| (Aug 2020) | $50-100K airdrop in Ergs to Gate.io users | Treasury Control | Passed | \(50,000-\)100,000 |
| (Aug 2020) | Excluding member from the foundation or development fund board | Treasury Control | Passed | |
| (Aug 2020) | New nominations to join Ergo Foundation | Treasury Control | Passed | |
| (Aug 2020) | Including Robert into DevFund board | Treasury Control | Passed | |
| (Aug 2020) | Sistemkoin giveaway | Treasury Control | Passed | |
| (Jun 2020) | Emurgo Partnership China Press Release on 8btc.com | Treasury Control | Failed | |
| (Jun 2020) | Emurgo Partnership | Treasury Control | Passed | |
| (May 2020) | Grant - Ledger Support | Treasury Control | Passed | |
| (Mar 2020) | Mining Pool by mhs_sam | Treasury Control | Failed | |
| (Jan 2020) | Selling 80K Ergs @ 5K sats/erg | Treasury Control | Passed | 80,000 ERG |
| (Jan 2020) | Salaries - Jan-2020 | Treasury Control | Passed | |
| (Jan 2020) | Irregular Spendings and BTC accumulation - Jan-2019 | Treasury Control | Passed | |
| (Jan 2020) | Selling 5 BTC worth of Ergs @ $0.45/erg | Treasury Control | Passed | 5 BTC worth of ERG |
| (Jan 2020) | Ergo Faucet | Treasury Control | Failed | |
| (Dec 2019) | Salaries - Dec-2019 | Treasury Control | Passed | |
| (Dec 2019) | Irregular spendings & BTC accumulation - Dec-2019 | Treasury Control | Passed | |
| (Dec 2019) | Closing legal entity in Russia | Treasury Control | Passed | |
| (Dec 2019) | Regular Spending - Marketing Budget | Treasury Control | Failed | |
| (Dec 2019) | Selling 50K Ergs @ $0.5/erg | Treasury Control | Passed | 50,000 ERG |
| (Dec 2019) | Ergo Podcast | Treasury Control | Passed | |
| (Nov 2019) | Catena's debt to be paid in Ergs | Treasury Control | Passed | |
| (Nov 2019) | Development Fund debts | Treasury Control | Passed | |
| (Nov 2019) | Development Fund Board | Treasury Control | Passed |